Homework Answers
Quick Ratio = Cash + Short term investments + Net current receivables
Total current liabilities
= 9,000+12,500+73,000
105,000
= 94,500/105,000
= 0.90
So Western's Quick ratio for 2019 is 0.90 . When compared to market ratio of 0.92, Westerns performance is slightly less in terms of liquidity position. Quick ratio indicates companys capacity to pay its current liabilities without selling its inventory or getting additional financing.
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2019 2018 Current assets: Cash $ 9,000 9,000 Short-term investments 12,500 7,500 Accounts receivable 82,000 (9,000)...
S5-12 (similar to) Western Products reported the following amounts in its 2019 financial statements. The 2018...
S5-12 (similar to) Western Products reported the following amounts in its 2019 financial statements. The 2018 amounts are given for comparison. (Click the icon to view the financial data.) Read the requirements. Requirement 1. Compute Western's quick (acid-test) ratio at the end of 2019. Round to two decimal places. How does the quick ratio compare with the industry average of 0.92? Begin by selecting the formula, then enter the amounts and compute the quick (acid-test) ratio. (Abbreviation used: Cash* =...
Pilgrim Products reported the following amounts in its 2010 financial statements. The 2018 amounts we given...
Pilgrim Products reported the following amounts in its 2010 financial statements. The 2018 amounts we given for comparison (Click the icon to view the financial data) Read the rements Requirement 1. Computo Pilgrim's quick acid test) ratio at the end of 2010. Round to two decimal places. How does the quick ratio compare with the industry average of 0.02 Begin by selecting the formula, then enter the amounts and compute the quick (ci-test) (Abbreviation used Cash Cash and cash equivalents....
Assets 2018 Liabilities 2018 Cash and Cash Equivalents 63,000 Current Liabilities 40,000 Short-term Investments 3,000 Long-term...
Assets 2018 Liabilities 2018 Cash and Cash Equivalents 63,000 Current Liabilities 40,000 Short-term Investments 3,000 Long-term Liabilities 120,000 Inventory 21,000 Total Liabilities 160,000 Accounts Receivables 20,000 Total Current Assets 107,000 Total Owners' Equity 597,000 Fixed Assets 650,000 Total Assets 757,000 What is the firm’s current ratio and quick ratio in this order? 1.58; 2.68 2.68; 1.58 1.58; 2.15 2.68; 2.15
Pilgrim Products reported the following amounts in its 2019 financial statements. The 2018 amounts are given...
Pilgrim Products reported the following amounts in its 2019 financial statements. The 2018 amounts are given for comparison Click the loon to view the financial data) Read the requirements Requirement 1. Compute Plgrim's quick acid-test)ratis at the end of 2010. Round to two decimal places. How does the quick ratio compare with the industry average of 0.027 Begin by selecting the formula, then enter the amounts and compute the quick (ack-400) roto (Abbreviation used: Cash Cash and cash equivalents. Round...
Southern Products reported the following amounts in its 2019 financial statements. The 2018 amounts are given...
Southern Products reported the following amounts in its 2019 financial statements. The 2018 amounts are given for comparison. 2019 2018 Current assets: Cash $10,000 $10,000 Short-term investments 10,000 6,500 Accounts receivable $85,000 $75,100 Less: Allowance for uncollectibles (6,000) 79,000 (4,000) 71,100 Inventory 193,000 194,000 Prepaid insurance 2,000 2,000 Total current assets 294,000 283,600 Total current liabilities 100,000 107,000 Net sales (all on account) 1,050,700 735,000 Requirement 1. Compute Southern's quick (acid-test) ratio at the end of 2019. Round to two...
Bronco Electronics' current assets consist of cash, short-term investments, accounts receivable, and inventory. The following data...
Bronco Electronics' current assets consist of cash, short-term investments, accounts receivable, and inventory. The following data were abstracted from a recent financial statement: Inventory Total assets Current ratio Acid-test ratio Debt to equity ratio $ 180,000 $1,580,000 3.0 2.40 1.5 Required: Compute the long-term liabilities for Bronco: Long-term liabilities
2018 2017 Cash Short-term Investments Net Accounts Receivables Merchandise Inventory Total Assets 60,000 $ 53,000 30,000...
2018 2017 Cash Short-term Investments Net Accounts Receivables Merchandise Inventory Total Assets 60,000 $ 53,000 30,000 0 146,000 132,000 277,000 252,000 495,000 535,000 265,000 202,000 44,000 56,000 170,000 178,000 48,000 44,000 Total Current Liabilities Long-term Note Payable Income from Operations Interest Expense Compute the following ratios for 2018 and 2017, and evaluate the company's ability to pay its current liabilities and total liabilities: a. Current ratio d. Debt ratio b. Cash ratio e. Debt to equity ratio c. Acid-test ratio
Bronco Electronics' current assets consist of cash, short-term investments, accounts receivable, and inventory. The following data...
Bronco Electronics' current assets consist of cash, short-term investments, accounts receivable, and inventory. The following data were abstracted from a recent financial statement: Inventory Total assets Current ratio Acid-test ratio Debt to equity ratio $ 185,000 $1,610,000 3.1 2.10 1.8 Required: Compute the long-term assets for Bronco: Long-term assets
Highland Products reported the following amounts in its 2019 financial statements. The 2018 amounts are given...
Highland Products reported the following amounts in its 2019
financial statements. The 2018 amounts are given for
comparison.
Data Table 2019 2018 Current assets: $ 9,200 $ 9,200 12,000 Short-term investments 16,000 . ..- Accounts receivable $ 81,500 (7,500) 76,000 191,000 2,300 290,500 108,000 736,000 Less: Allowance for uncollectibles 73,500 (5,500) 190,000 2,300 291,000 105,000 971,750 Prepaid insurance Compute Highland's quick (acid-test) ratio at the end of 2019. Round to two decimal places. How does the quick ratio compare with...
Wund the qu i Requirements 1. Compute Golden's quick (acid-test) ratio at the end of 2019....
Wund the qu i Requirements 1. Compute Golden's quick (acid-test) ratio at the end of 2019. Round to two decimal places. How does the quick ratio compare with the industry average of 0.92? Compare days' sales outstanding for 2019 with the company's credit terms of net 30 days. Print Print Done Done © Data Table 2019 2018 $ $ 11,500 13,500 Current assets: Cash Short-term investments Accounts receivable Less: Allowance for uncollectibles Inventory Prepaid insurance Total current assets Total current...
S5-12 (similar to) Western Products reported the following amounts in its 2019 financial statements. The 2018 amounts are given for comparison. (Click the icon to view the financial data.) Read the requirements. Requirement 1. Compute Western's quick (acid-test) ratio at the end of 2019. Round to two decimal places. How does the quick ratio compare with the industry average of 0.92? Begin by selecting the formula, then enter the amounts and compute the quick (acid-test) ratio. (Abbreviation used: Cash* =...
Pilgrim Products reported the following amounts in its 2010 financial statements. The 2018 amounts we given for comparison (Click the icon to view the financial data) Read the rements Requirement 1. Computo Pilgrim's quick acid test) ratio at the end of 2010. Round to two decimal places. How does the quick ratio compare with the industry average of 0.02 Begin by selecting the formula, then enter the amounts and compute the quick (ci-test) (Abbreviation used Cash Cash and cash equivalents....
Pilgrim Products reported the following amounts in its 2019 financial statements. The 2018 amounts are given for comparison Click the loon to view the financial data) Read the requirements Requirement 1. Compute Plgrim's quick acid-test)ratis at the end of 2010. Round to two decimal places. How does the quick ratio compare with the industry average of 0.027 Begin by selecting the formula, then enter the amounts and compute the quick (ack-400) roto (Abbreviation used: Cash Cash and cash equivalents. Round...
Bronco Electronics' current assets consist of cash, short-term investments, accounts receivable, and inventory. The following data were abstracted from a recent financial statement: Inventory Total assets Current ratio Acid-test ratio Debt to equity ratio $ 180,000 $1,580,000 3.0 2.40 1.5 Required: Compute the long-term liabilities for Bronco: Long-term liabilities
2018 2017 Cash Short-term Investments Net Accounts Receivables Merchandise Inventory Total Assets 60,000 $ 53,000 30,000 0 146,000 132,000 277,000 252,000 495,000 535,000 265,000 202,000 44,000 56,000 170,000 178,000 48,000 44,000 Total Current Liabilities Long-term Note Payable Income from Operations Interest Expense Compute the following ratios for 2018 and 2017, and evaluate the company's ability to pay its current liabilities and total liabilities: a. Current ratio d. Debt ratio b. Cash ratio e. Debt to equity ratio c. Acid-test ratio
Bronco Electronics' current assets consist of cash, short-term investments, accounts receivable, and inventory. The following data were abstracted from a recent financial statement: Inventory Total assets Current ratio Acid-test ratio Debt to equity ratio $ 185,000 $1,610,000 3.1 2.10 1.8 Required: Compute the long-term assets for Bronco: Long-term assets
Highland Products reported the following amounts in its 2019
financial statements. The 2018 amounts are given for
comparison.
Data Table 2019 2018 Current assets: $ 9,200 $ 9,200 12,000 Short-term investments 16,000 . ..- Accounts receivable $ 81,500 (7,500) 76,000 191,000 2,300 290,500 108,000 736,000 Less: Allowance for uncollectibles 73,500 (5,500) 190,000 2,300 291,000 105,000 971,750 Prepaid insurance Compute Highland's quick (acid-test) ratio at the end of 2019. Round to two decimal places. How does the quick ratio compare with...
Wund the qu i Requirements 1. Compute Golden's quick (acid-test) ratio at the end of 2019. Round to two decimal places. How does the quick ratio compare with the industry average of 0.92? Compare days' sales outstanding for 2019 with the company's credit terms of net 30 days. Print Print Done Done © Data Table 2019 2018 $ $ 11,500 13,500 Current assets: Cash Short-term investments Accounts receivable Less: Allowance for uncollectibles Inventory Prepaid insurance Total current assets Total current...
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